Real estate in the Toronto area has been more popular than ever in the last couple of years - Toronto and its neighbouring areas are the places to be for young people, growing families, and those who are interested in taking advantage of the easy commute options to get around the city. But is Etobicoke real estate a good investment overall? Yes, and we're happy to explain why.
3 Ways Etobicoke Real Estate Is a Good Investment
1. First-Time BuyersFirst-time buyers usually put a lot of careful thought into investing in a house or condo that they plan to live for the foreseeable future. Fortunately, Etobicoke is a neighbourhood great for first-time buyers, including those with children.
If you've finally had enough with renting cramped apartments or you're ready to upgrade, Etobicoke has plenty of housing options near convenient public transit, markets, and schools.
New Developments Are Popping Up EverywhereOne of the most exciting things about Etobicoke real estate is the fact that new developments are on the rise, especially when it comes to condominiums.
A condo in this neighbourhood will be recently built with all the amenities and room you need, all without the competitive - and expensive - units available in Toronto proper. Condos in this neighbourhood are also ideal for commuters.
2. House FlippersIf you're a house flipper, someone who buys older properties and gives them a total overhaul for a better sale later one, then you should be pleased to learn that the housing in Etobicoke is particularly good if you can find a buyer who wants to upsize from a smaller residence.
Renovate Classic Residential NeighborhoodsThe classic residential neighbourhoods in Etobicoke have seen a surge of renovations lately. Most of these renovations honour the classic structure of these homes while still modernizing their interiors to be more attractive to contemporary buyers: mainly families that are looking for more room.
3. Property InvestorsFor property investors, Etobicoke is probably your most exciting prospect right now. This is a neighbourhood gaining a lot of popularity recently and has a slew of new developments, businesses, and conveniences that are drawing more people to the area. This is why it might be time to strike while the iron is hot and invest in a property you can rent out.
Why Renting Your Property Out Is a Good IdeaRenting your property out is not only a reliable way to make steady revenue, but it also gives you more opportunities for investment. Rental properties allow investors to have tenants who are looking for affordable quality housing, which means you may soon be able to make another property investment.
Just remember to move fast to buy and renovate the property for rental - the real estate market here is hot and properties are sold quickly.
Etobicoke might be the most promising real estate in the greater Toronto area, which means it's an excellent opportunity for real estate investment. Whether you're a first-time buyer or you're planning on renting your property out, Etobicoke is swimming with new developments and opportunities. Contact GTA Selling Real Estate in Toronto, Ontario to learn more.